Letter: We need politicians who will fight for us

Comment

The Bulletin

Writer

Posted Nov. 26, 2013 at 2:01 AM

Posted Nov. 26, 2013 at 2:01 AM

Why has capitalism abandoned the middle-class?

The income gap last year exceeded the gap in 1927, just before the Great Depression. Bank profits and the stock market are at record highs, and 95 percent of those income gains since the Great Recession went to the top 1 percent.

What caused the recession? Mismanagement in the financial sector. How did they get away with it? Lack of adequate government controls and enforcement under President George W. Bush. Do we now have better controls? Yes, but not sufficient.

Republicans fight for the 1 percent. We need politicians fighting for us by raising the minimum wage. The current $7.25 is based on 1963 inflation, adjusted it should be $8.37, and if you take into account increases in productivity, $16.54; strengthen workers voices by increasing labor unions membership from 10 percent to the 1955 value of 30 percent; reform Wall Street with new banking regulations, and enforce Antitrust laws; fix the tax system and make the rich pay their fair share, and, get “big money” out of politics.